In 2021, Cryptocurrency Will Continue to Facing Ransomware and Botnet Attacks




According to Sophos, a cybersecurity firm, ransomware attacks will continue to rely on bitcoin. According to the data, ransomware attacks accounted for roughly 7.5 percent of all global cybersecurity breaches. According to Sophos’ rapid response team, which examined and resolved these issues, several of these attacks appear to be directed at bitcoin traders via bogus app login screens.

It is intended that this weekend’s Sophos’ 2022 Threat Report, released in conjunction with the threat landscape in 2021, would provide additional light on potential future gaps and contextualize the security issues and trends that organizations may encounter in 2022. This article examines the Flubot family of mobile viruses, one of the most prevalent banking trojans on the Android platform in 2021.

Malwarescreates different types of bugs

The malware creates bogus login pages for major services such as banks and cryptocurrency exchanges in order to steal the user’s login information. When a victim’s bank account information is collected, it is also used to send spam to the victim’s friends and associates, which may result in the spread of additional Flubot infections.

The malware is primarily distributed by text messages, posing as well-known international parcel delivery businesses such as DHL, FedEx, and UPS. Occasionally, a victim will receive an SMS alert including a bogus voicemail message with a web link.

Propagating crypto-mining software

According to Sophos, the usage of automated botnet attacks such as Mirai has risen dramatically in recent years as a means of propagating crypto-mining software. By pooling the computational power of hundreds or thousands of workstations after infecting various corporate assets, such as servers and IoT devices, fraudsters can mine bitcoin and disseminate it to other devices.

As a result, criminals operating in countries where economic sanctions are in effect are more likely to use bitcoin than other cryptocurrencies. Bitcoin is an anonymous payment method, which makes it impossible to determine the ultimate destination of the payments. This was stated in a media report.

According to Sophos, crypto-jacking and ransomware are two of the most prevalent methods hackers obtain bitcoin payments directly from their victims. “In 2022, Sophos believes that illicit cryptocurrency use will continue to grow, both to evade sanctions and to conceal criminal activity.”




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